Asset Allocation
Kentucky Retirement Systems Leans into Stocks, Real Estate
Investment committee members are dialing up risk levels to meet return assumptions.
News
Risk
Mississippi Pension Sues Portland General Electric over Energy Trading Losses
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
Pensions
US, UK Corporate Pension Deficits Widen Due to Falling Equity Markets
Rising discount rates were not enough to offset markets spooked in October by surging COVID-19 cases.
Market Moves
A Divided Congress Is Good for Stocks, Study Says
When neither party controls both side of Capitol Hill, the S&P 500 does best, per LPL study.
Pensions
10 Ways to Close Public Pension Funding Gaps
NCPERS research identifies actions governments can take to close pension funding gaps without resorting to detrimental ‘knee-jerk’ reactions.
Asset Allocation
Mubadala Wants to Turn Parking Lots into Hubs for Restaurants
The Abu Dhabi sovereign wealth fund’s investment is a vote of confidence in delivery and last-mile distribution services.
Market Moves
Housing Surge May Be Ebbing, Economist Says
Much of the action has been in the high end of the market, notes TS Lombard’s Brennan.
CIO’s 2021 LDI Survey Now Open
The survey tracks liability-driven investment practices and vendor experience/capabilities.
Asset Management Culture
Ivy League Endowments Underperform 60-40 Portfolio Again
Average university returns fall short of a passive portfolio over one- and 10-year periods.
Alternatives
New York State Pension Doubles Down on Alternatives
C-band spectrum, collateralized loan obligations, and solar and wind power are among the largest allocations the fund made in September.
Risk
Australian Pension Fund Settles Climate Change Lawsuit
Mark McVeigh calls the settlement with Rest pension fund a ‘ground-breaking recognition’ of risks posed by climate change.
Manager Selection
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.
Asset Allocation
Slow Jobs Recovery to Impact Some State Credit Ratings
Hawaii recently saw a Fitch downgrade to AA, thanks to continued employment losses in the leisure sector.
Regulation
Rhode Island Pension Sues Restaurant Brands over Offerings
Lawsuit alleges the fast-food company misled investors about the underperformance of its Tim Hortons chain.
Market Moves
Democrats Favored to Win the Senate, but Odds Narrow, Goldman Says
The firm’s analysis, based on stocks affected by a Biden tax boost, tracks findings of the prediction markets.